McKinsey & Company agrees to pay $650M for helping Purdue Pharma boost opioid sales
McKinsey & Company consulting firm has agreed to pay $650 million to settle a federal investigation into its work for opioids manufacturer Purdue Pharma, according to court papers filed in Virginia
BOSTON — McKinsey & Company consulting firm has agreed to pay $650 million to settle a federal investigation into its work to help opioids manufacturer Purdue Pharma boost the sales of the highly addictive drug OxyContin, according to court papers filed in Virginia on Friday.
As part of the deal with the U.S. Justice Department, McKinsey will avoid prosecution on criminal charges if it pays the sum and follows certain conditions for five years, including ceasing any work on the sale, marketing or promotion of controlled substances.
A former McKinsey senior partner, Martin Elling, has also agreed to plead guilty to obstruction of justice for deleting documents from his laptop after he became aware of investigations into Purdue Pharma, the maker of OxyContin that was then a client, according to the filings. A lawyer for Elling declined to comment Friday.
McKinsey said in a statement on Friday that it's “deeply sorry” for its work for Purdue Pharma.
“We should have appreciated the harm opioids were causing in our society and we should not have undertaken sales and marketing work for Purdue Pharma,” the company said. “This terrible public health crisis and our past work for opioid manufacturers will always be a source of profound regret for our firm.”
It's the latest effort by federal prosecutors to hold accountable companies officials say helped fuel the U.S. addiction and overdose crisis, with opioids linked to more than 80,000 annual deaths in some recent years. For the past decade, most of them have been attributed to
Read more on abcnews.go.com
